Higher regulatory standards will drive up cost of protection, company argues.

Local and state financial problems are accelerating largely because of public entities' pension plans, he says.

Local and state financial problems are accelerating largely because of public entities' pension plans, he says.

In his annual letter to shareholders, Warren Buffett promotes his buy-and-hold approach to investments for professionals, calling stock market liquidity a curse for many equity holders.

In his annual letter to shareholders, Warren Buffett promotes his buy-and-hold approach to investments for professionals, calling stock market liquidity a curse for many equity holders.

Berkshire Hathaway hires four AIG executives.

Berkshire Hathaway hires four AIG executives.

CEO Kandarian reshapes management and seeks to reduce risk at life insurer.